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Executive Order 14036: Promoting Competition?
Get PDFFour million Americans left their jobs in July 2021. By the end of that month, the number of open jobs reached an all-time high: 10.9 million. Employees are walking out the door in record numbers as part of a trend so remarkable, we even gave it a name: the Great Resignation. With 4.3 million Americans quitting their jobs in January 2022 and 11.3 million job openings, the Great Resignation is only gaining momentum and showing no signs of slowing down.
And as a consequence of employees exiting in droves, employers are hurting. According to The Work Institute, turnover costs employers approximately thirty-three percent of an employee’s annual salary. Other estimates indicate it could cost as much as 1.5 times a worker’s salary. The cumulative effect of so many workers leaving means employers are taking a serious hit; two experts estimate that employee turnover costs American businesses approximately $1 trillion. Employers need a way to stop the bleeding and mitigate the significant losses they have already incurred. Covenants not to compete can do just that: they allow employers to protect their assets and prevent situations like what we are seeing currently with companies hemorrhaging money due to a mass exodus of employees.
To make matters worse, some studies show a direct correlation between quitting rate and inflation; as the number of workers quitting their jobs increases, the rate of wages and prices also increases. In this situation, workers who are not bound by a noncompete may decide they want to leave their jobs and start looking for opportunities to work elsewhere. They could be enticed by a rival company who is willing to pay them more, and if their current employer values and wants to keep them, they will feel pressured to pay the employee more to retain them. So “[i]n this context, if employed workers search more, wage competition among employers increases, leading to an increase in inflationary pressures; if they search less, wage competition falls and inflationary pressures decrease.” In other words, enforcing noncompete agreements can lead to lower rates of inflation and a better economy.
Given that covenants not to compete were designed for such a time as this, with prices increasing faster than they have since 1982 and employees exiting in record numbers, it only makes sense that employers have been enforcing these covenants more frequently. Surveys show that lawsuits involving noncompetes and trade secret agreements have approximately tripled since the year 2000. This increase in enforcement has garnered widespread attention with states across the country rethinking their laws regarding covenants not to compete and culminated in President Biden calling for regulation at the federal level with Executive Order 14036, “Promoting Competition in the American Economy.”
No question—a lot of people are talking about noncompetes right now, and many have very strong opinions on both sides of the issue. But before we can move forward and decide whether covenants not to compete are a good or bad idea for employers, employees, and the overall economy, we must first go back to the beginning and understand their history
Individual Home-Work Assignments for State Taxes
Get PDFThe surge in work-from-home arrangements brought on by the Covid-19 pandemic threatens serious disruptions to state tax systems. Billions of dollars are at stake at this pivotal moment as states grapple with where to assign income earned through these remote work arrangements for tax purposes: the worker’s home or the employer’s location? States intent on modernizing their income tax laws by assigning such income to the employer’s location have faced persistent challenges on both constitutional and policy grounds.This Article provides a vigorous defense against such challenges. The Supreme Court has long interpreted the Constitution to be deferential to state tax actions; new laws for the age of remote work surely satisfy constitutional demands. Moreover, assigning income from remote work to the employer’s location is more equitable than assigning the income to the worker’s home, justifying modernization efforts from a policy perspective. The solution to this home-work assignment problem is evident: the states must revise their tax laws to face the evolving nature of work
e-Museletter: January 2023
Get PDFThis Issue:
Director\u27s Message
Library News
Featured Resources
Materials Update
Things to Consider
Student Services Cornerhttps://scholarship.richmond.edu/museletter/1178/thumbnail.jp
Transformative Education: How Can You Become a Better College Teacher?
Get PDFTransformative Education presents a comprehensive approach to college teaching that stresses both the presentation of topical coverage AND the development of critical thinking skills. The book focuses on several key points in the learning process such as student preparation for class, student engagement during class, and student review and organization of the material after class. The book discusses the urgent need for more and better high-quality college education, a goal that can be achieved by a methodical approach to gradual teaching improvement.https://scholarship.richmond.edu/bookshelf/1396/thumbnail.jp
Fighting for Whiteness in Ukraine
Get PDFTeri McMurtry-Chubb’s Race Unequals: Overseer Contracts, White Masculinities, and the Formation of Managerial Identity in the Plantation Economy offers groundbreaking insights into the gendered economic hierarchies internal to the body politic of whiteness through its examination of the limitations that plantation overseers’ contracts in the American Deep South placed on their ability to exercise the proprietorship and contracting authority prerequisite to white identity. This Essay uses the Ukrainian campaign to be recognized as a liberal white nation, and formally become a member of the West, as a contemporary case study of how whiteness remains hegemonized and subject to the ability of individuals and states to negotiate the full or partial benefits of global white citizenship
The Way Forward: A Review of Virginia\u27s 2023 Regular General Assembly Session
Get PDFThe 2023 General Assembly Session can best be defined by the success of bipartisanship. In an era of heightened polarization, Virginia legislators were able to meet across the aisle on a number of relevant issues. This article will provide a summary of key bills that were passed during the 2023 Regular and Special Sessions. The other articles within this issue touch upon the following topics: the Virginia Commission on School Construction and Modernization, family law, and the opioid and addiction crises. This article summarizes legislation passed with bipartisan support in the areas of: drugs, mental healthcare, labor and commerce, public schools, criminal justice, child welfare, animal welfare, transportation, insurance, and elections
